Visa Europe Settles Antitrust Suit With EU, Drops Fees

Law360, New York (December 9, 2010, 2:40 PM EST) -- The European Commission has ended an antitrust investigation into the debit card transaction fees of Visa Europe Ltd., accepting commitments by the company to substantially reduce bank-to-bank charges that trickle down to merchants and consumers.

The decision announced Wednesday makes legally binding a proposal by Visa Europe — Visa Inc.'s exclusive licensee on the continent — to cap the maximum weighted average for its multilateral interchange fees at .2 percent of the transaction cost for four years.

The commission said the offer, floated by the company...
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